Which of the following statements about marketing activities is most accurate?
a. Marketing is affected by society but rarely, if ever, affects society as a whole.
b. The marketing department works closely with other departments and employees to
implement marketing activities.
c. Marketing activities are the sole responsibility of the marketing department; other
departments are involved only if there is an emergency (such as a product recall).
d. Environmental forces do not affect marketing activities as long as a firm closely
monitors its environment through rigorous market research.
e. Marketing, after all is said and done, is essentially developing the right product and
convincing potential customers that they “need” it, not just “want” it.
Answer:
A disadvantage of a __________ is that the marketing research firm needs to recruit
new members continually to replace those who drop out.
a. representative group
b. jury of executive opinion
c. focus group
d. survey of experts
e. panel
Answer:
Fisher-Price Photo
In the Fisher-Price photo above, a researcher watches a young child play with his toys.
This is an example of
a. the use neuromarketing data to alter or improve a consumer’s behavior.
b. the use of secondary data to alter or improve a consumer’s behavior.
c. a researcher collecting observational data to use in future marketing actions.
d. a researcher collecting psychographic information to use in future marketing actions.
e. the use of personal interviews to collect subjective but essential information
necessary to make informed marketing decisions.
Answer:
Four trends have significantly affected world trade and global marketing. The use of
__________ as a tool for exchanging goods, services, and information on a global scale
is the fourth trend affecting world trade.
a. telephone communications
b. Internet technology
c. language translators
d. tariff and quota policies
e. multinational marketing strategies
Answer:
A __________ is a written document that describes job relationships and requirements
that characterize each sales position.
a. sales plan
b. job analysis
c. performance contract
d. job description
e. personal performance plan
Answer:
An industrial buying practice in which two organizations agree to purchase each other’s
products and services is referred to as __________.
a. a tying arrangement
b. exclusive dealing
c. reciprocity
d. a supply partnership
e. noncompetitive bidding
Answer:
Intermediaries who perform a variety of functions, including selling, maintaining
inventories, extending credit, and so on are referred to as __________.
a. dealers
b. brokers
c. retailers
d. wholesalers
e. distributors
Answer:
While __________ often changes price based upon color or style, __________ often
changes prices based on time, day, week, or season.
a. prestige pricing; skimming pricing
b. yield management pricing; bundle pricing
c. price lining; yield management pricing
d. target pricing; target return on investment pricing
e. bundle pricing; standard markup pricing
Answer:
Which of the following organizations engage in marketing?
a. Chicago Cubs
b. San Francisco Opera
c. the city of Denver
d. the president of the United States
e. Every organization or individual can engage in marketing to some extent.
Answer:
With today’s smartphones, you can watch the news, shoot videos, browse the Internet,
take pictures, and listen to music. And more and improved new features are added with
each new smartphone introduced from Apple, Samsung, BlackBerry, etc. As a result,
consumers may want to replace their existing smartphones with new models or brands.
This increase in demand is due in part to changes in ___________, an environmental
force.
a. competition
b. social culture
c. technology
d. regulations
e. the economy
Answer:
In the Boston Consulting Group (BCG) model for analysis of a firm’s strategic business
units, or SBUs, the horizontal axis reflects __________.
a. market growth rate
b. marketing efficiencies
c. industry attractiveness
d. market segment size
e. relative market share
Answer:
Some Timex wristwatches can be purchased for less than $30 while some Rolex
wristwatches carry a price tag of several thousand dollars. In general, consumers view
Timex watches as being dependable, relatively accurate, and inexpensive. The Rolex
brand tends to be perceived as an expensive status symbol. Timex watches can be
purchased in drug stores, discount stores, and department stores in all sizes of
communities. Rolex watches are distributed more selectively, and are often available
only in fine jewelry stores or specialty shops in major cities. By using distinctly
different pricing and distribution strategies, the marketers of Rolex watches
a. compete for the same segment through different channels of distribution.
b. develop similar products as Timex but under different names.
c. use a differentiation positioning strategy.
d. compete for the same customers through similar retail outlets.
e. create cognitive dissonance in consumers who purchased Timex wristwatches.
Answer:
The fifth step in segmenting and targeting markets that link customer needs to
marketing actions is to __________.
a. take marketing actions to reach target markets
b. group potential buyers into segments
c. select target markets
d. group products to be sold into categories
e. develop a market-product grid and estimate size of the overall market
Answer:
Figure 1.
In Figure 1. above, “B” represents a firm’s partnerships with
a. other organizations.
b. suppliers.
c. shareholders.
d. customers.
e. other departments.
Answer:
Figure 1.a
Which type of auction does Figure 1.a above represent?
a. reverse auction
b. horizontal auction
c. vertical auction
d. diagonal auction
e. traditional auction
Answer:
Which of the following is an example of form utility?
a. an iPhone with a “multitouch” user interface for easy navigation
b. stamp vending machines that are located in drug stores
c. a service station that has a 24-hour ice machine available for use when the station is
closed
d. a mobile phone company that offers six-month financing, same as cash
e. a gourmet candy store that offers a home delivery service
Answer:
In the VALS framework, consumers motivated by self-expression desire social or
physical activity, variety, and risk. One segment of the two self-expression-motivated
groups, known as __________, are young, enthusiastic, and impulsive consumers who
become excited about new possibilities but are equally quick to cool.
a. Experiencers
b. Believers
c. Makers
d. Achievers
e. Thinkers
Answer:
As a dimension of service quality, the caring, individualized attention provided to
customers as a dimension of service quality is referred to as __________.
a. reliability
b. responsiveness
c. competence
d. assurance
e. empathy
Answer:
Market development refers to the marketing strategy of
a. increasing sales of current products in current markets.
b. selling new products to new markets.
c. selling new products to current markets.
d. selling the same brands in both current and new markets.
e. selling current products to new markets.
Answer:
The marketing of low-cost copies of popular brands not manufactured by the original
producer is referred to as __________.
a. brand licensing
b. co-branding
c. brand imitation
d. product counterfeiting
e. re-manufacturing
Answer:
Much of Google’s success is based on the ten guidelines of its corporate philosophy.
Guideline 10 states, “__________ just isn”t good enough.”
a. Second
b. Satisfying customers
c. Making money
d. Beating Microsoft
e. Great
Answer:
Pez was originally sold in Europe as an adult __________.
a. breath mint
b. chewing gum
c. pain reliever
d. stop smoking patch
e. antacid
Answer:
In the VALS framework, achievement-motivated consumers who a have lower levels of
education and household income than Achievers are called __________.
a. Believers
b. Experiencers
c. Strivers
d. Makers
e. Survivors
Answer:
Walmart made a conscious decision to use a(n) __________ supply chain in order to
best meet the needs of its consumers.
a. integrated
b. responsive
c. harmonized
d. efficient
e. multi-tiered
Answer:
The term __________ is used to identify a group of people within an organization who
participate in the buying process and share common goals, risks, and knowledge
important to a purchase decision.
a. procurement committee
b. purchasing department
c. buying center
d. gatekeepers
e. acquisition office
Answer:
The key objective of competitive advertising is to
a. tell people what a product is, what it can do, and where it can be found.
b. show one brand’s strengths relative to those of competitors.
c. reinforce previous knowledge of a product.
d. promote the advantages of one product class over another.
e. persuade the target market to select the firm’s brand rather than that of a competitor.
Answer:
Toyota is generally acknowledged as the best in the world in revolutionizing the design
and manufacture of autos. Toyota managers created the doctrine of __________, or
continuous improvement.
a. keiretsu
b. kaizen
c. kanban
d. meishi
e. zaibatsu
Answer:
HSBC Bank International Ltd. (Europe’s largest bank) selected its advertising agency
because that agency was “always sensitive to the possibility that something might not
translate well or may offend superstitions about colors or numbers.” Its advertising
agency was responsive to
a. psychographic differences.
b. population shifts.
c. racial and ethical diversity.
d. a value consciousness.
e. macroeconomics.
Answer:
A fixed amount of money paid to the site for every visitor who clicks on an ad and goes
from the website to the advertiser’s site is referred to as
a. online measure.
b. cost per thousand.
c. negotiated measure.
d. cost per action.
e. cost per click.
Answer:
Figure 1.
Which of the following stores would best fit in “D” shown in Figure 1. above?
a. Kmart
b. Payless ShoeSource
c. Dillard’s department store
d. a Toyota automobile dealer
e. Tiffany & Co.
Answer:
Sales exhibit a steady downward trend throughout which stage of the product life cycle?
a. introduction
b. growth
c. maturity
d. decay
e. decline
Answer:
A company that manages apartments decides to buy 15 new dishwashers at a list price
of $550 each as replacements for old dishwashers in a small apartment complex it
owns. Because the company is buying more than 10 dishwashers, it is eligible for a
$150-per-unit quantity discount. Financing charges total $20 per unit. The company
gets $10 per dishwasher for the 15 dishwashers traded in. What is the final price the
company will pay for each dishwasher?
a. $390
b. $400
c. $410
d. $530
e. $560
Answer:
As the content of a blog or messages posted on social media sites moves from
impersonal to highly personal, the level of self-disclosure __________.
a. decreases
b. is not affected
c. undermines the credibility of the site
d. increases
e. increases the credibility of the site
Answer:
Organizational buyers can be divided into three different markets, which are
a. industrial, wholesaler, and retailer markets.
b. industrial, retailer, and government markets.
c. retailer, manufacturer, and government markets.
d. industrial, government, and ultimate consumer.
e. industrial, reseller, and government markets.
Answer:
Marketers who want to increase their chances of selling products and services to
organizations must understand its needs, get on its bidder’s list, find the right people in
its buying center, and ultimately
a. provide value to organizational buyers.
b. adapt the product or service to offer the lowest price possible.
c. beat out all other possible vendors.
d. sign a binding contract that prohibits changes to the product, time line, or quantities
ordered.
e. establish an e-marketplace to conduct both traditional and reverse auctions.
Answer:
List potential stakeholders for the college or university that you attend.
Answer:
What is experience curve pricing and how does it relate to marketing strategies?
Answer:
Explain the difference between full-service and limited-service merchant wholesalers.
List and describe the types of wholesalers that belong in each category.
Answer:
Describe the marketing strategy the AOI team used for Bitter Girls to develop a
following in its target market.
Answer:
In Europe, stores called __________ are based on the concept of one-stop shopping for
consumers. Such retail stores, which use scrambled merchandising, often encompass
over 200,000 square feet and offer quality, variety, and low price for food and groceries
and general merchandise.
a. megamarkets
b. hypermarkets
c. one-stop markets
d. euromarkets
e. supercenters
Answer:
Explain the global impact of retailing.
Answer:
Compare the three ways to manage a product through its product life cycle.
Answer:
Explain how attitudes are shaped by our values and beliefs.
Answer:
List and describe the five environmental forces in a marketing decision that are outside
the control of marketing managers.
Answer:
What is the abridged American Marketing Association definition of marketing
according to the textbook? How does this differ from you previous notion of marketing
before reading this chapter?
Answer:
List and define the three major types of vertical marketing systems.
Answer:
List and briefly describe the four main elements of Porter’s diamond of national
competitive advantage.
Answer:
Compare continuous, dynamically continuous, and discontinuous innovations. Provide
the marketing strategy and an example of each.
Answer:
How do online consumers differ from the general population? What three
characteristics of online consumers make them an attractive market?
Answer:
What value does direct marketing provide customers?
Answer: